Gold Dips On Rise In Global Equities

Gold futures closed lower in the domestic market on Thursday as equities markets overseas finished mostly higher, which cut some of the aggressive demand for gold as a short-term refuge amid a risk-off market sentiment shift. The battered dollar also improved Thursday.

Still, the haven demand underpinning gold remained a key theme as global markets prepared for the outcome of a major policy test for the Trump administration and a Republican-led Congress. At the MCX, gold futures for April 2017 contract ended at Rs 28800 per 10 grams, down by 0.29 per cent, after opening at Rs 28,819 against a previous close of Rs 28,885. It touched the intra-day low of Rs 28,750.

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Suhani Verma

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